STA In The News

This month marks the 10th anniversary of Lehman Brothers’ bankruptcy, a collapse synonymous with the 2008 financial crisis. The U.S. emerged from the Great Recession in 2009, entering what may be one of the country’s longest periods of economic expansion. But if all good things must end, it’s natural to wonder when to expect the next downturn and how to prepare. There’s chatter that a recession is on the horizon, and while no one knows exactly when, some economists think the U.S. economy could enter a downturn in 2020. The Federal Reserve also signals that gross domestic product — the value of all goods and services produced across the economy — will slump in 2020. Echoing fellow economists, Tendayi Kapfidze, chief economist at LendingTree, MagnifyMoney’s parent company, said he expected the economy to slow the second half of 2019.

As Hurricane Florence bears down on a large swath of the southeastern United States, financial advisers are heading for shelter and appreciating the increasingly virtual nature of the financial services industry.

How much can you make to contribute to a Roth IRA? Quick Summary: If you are single, you must have a modified adjusted gross income under $135,000 to contribute to a Roth IRA for the 2018 tax year, but contributions are reduced starting at $120,000. If you are married filing jointly, your MAGI must be less than $199,000, with reductions beginning at $189,000.

Required minimum distributions, or RMDs, the mandatory amounts people must withdraw from certain retirement accounts or face a harsh penalty from the IRS, may be about to change. President Trump recently directed the Treasury and Labor departments to consider the implications of delaying the age of required minimum distributions for retirement plan withdrawals.

For those who want to start a new business, startup capital is often a big obstacle. Depending on why you want to start a business — for example, if you’re leaving a job — you may not necessarily have the money you need to get it off the ground. In that case, you’ll have to find creative ways to make your ideas a reality. Fortunately, there are plenty of ways to craft smart business budgets and secure funding, and they can help you get started without a ton of capital.

It takes time to build a successful business, but after some time the owner will likely want to retire. However, many business owners don’t think about what will happen to their businesses after they retire. There is a lot to consider to make sure the business you spent your resources building can survive with new management.

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